Business
PSX continues to extend losses as KSE-100 closes 1,300 points lower | The Express Tribune
KARACHI:
The Pakistan Stock Exchange (PSX) extended its downturn on Tuesday, with the benchmark KSE‑100 index falling 1,303.52 points to settle at 173,150.42, as persistent foreign corporate selling exacerbated bearish sentiment across key sectors.
After opening higher and briefly reaching 176,131.35, early gains were short‑lived as investors booked profits and reversed course. A modest midday rebound failed to sustain momentum, and renewed selling in the final hour dragged the index toward an intra‑day low of 171,693.40 before the close.
Market breadth remained weak, with declines evident in heavyweight sectors such as autos, banking, cement, oil and gas exploration, OMCs, and power generation. Analysts said persistent foreign corporate selling and a fragile investor outlook continued to weigh on sentiment, mirroring volatility seen in recent sessions.
Also Read: PSX plunges 2.9% on sharp sell-off
On Monday, the bourse experienced a broad‑based sell‑off that saw the KSE‑100 plunge sharply amid institutional liquidation and weak corporate results, highlighting ongoing market fragility.
Topline Securities noted that extended offloading in blue‑chip names kept upward momentum in check.
Pakistan State Oil (PSO), Habib Bank, Engro Holdings, United Bank, Fauji Fertiliser, and National Bank collectively eroded 892 points from the benchmark, while Oil & Gas Development Company, Pakistan Petroleum, Millat Tractors, and Bank of Punjab provided limited support, adding 359 points.
In corporate earnings news, PSO posted an unconsolidated profit of Rs2.7 billion in 2QFY26, with an earnings per share (EPS) of Rs5.82, below industry expectations due to inventory losses and a higher effective tax rate, according to Topline Securities.
Read More: Gold per tola slips to Rs514,762 after international losses
Overall trading activity declined as volumes fell to 716 million shares from Monday’s 773.2 million, with the total traded value at Rs40.4 billion. Of the 477 companies traded, 128 advanced, 293 declined and 56 ended unchanged. K‑Electric topped the volume chart with 122.6 million shares, closing at Rs7.82, down Rs0.31.
Investors will be watching macroeconomic cues and corporate results closely after recent volatility, as the market absorbed both external selling and domestic pressures that have kept confidence tentative.
Last Updated:
Under Section 80C, investors can claim a tax deduction of up to Rs 1.5 lakh in a financial year by investing in a tax-saving FD
One of the key conditions attached to this investment is the mandatory lock-in period of 5 years. (representative image)
A tax-saving fixed deposit (FD) continues to be a popular investment option for individuals seeking a safe avenue to grow their money while reducing their tax burden. The scheme offers dual benefits, capital protection along with tax deductions under the Income Tax Act.
Under Section 80C, investors can claim a tax deduction of up to Rs 1.5 lakh in a financial year by investing in a tax-saving FD. In addition to the tax benefit, these deposits currently offer interest rates of up to around 7%, making them an attractive choice for those looking for stable and assured returns without exposure to market risks.
However, the tax advantage applies only to those who file their income tax returns under the old tax regime. Individuals opting for the new tax regime cannot claim deductions under Section 80C for investments made in tax-saving FDs. Financial planners advise investors to assess their tax planning strategy before committing funds.
One of the key conditions attached to this investment is the mandatory lock-in period of 5 years. During this period, the deposited amount cannot be withdrawn. The restriction is often viewed as a discipline-enforcing feature for long-term savers.
Premature withdrawal is not permitted; if the deposit is broken before completing 5 years, the investor may face penalties and will also lose the tax benefits. The withdrawn amount would then be treated as income in that financial year and taxed accordingly.
Tax-saving FDs also do not offer loan or overdraft facilities against the deposit. In case the account holder passes away, the nominee is allowed to withdraw the amount before maturity.
While the principal investment qualifies for tax deduction, the interest earned is not fully tax-free. If the annual interest exceeds Rs 40,000 or Rs 1 lakh in the case of senior citizens, banks deduct tax at source (TDS) at the time of payment. Despite this, the scheme remains appealing to conservative investors because it guarantees returns at maturity and shields savings from market volatility.
Click here to add News18 as your preferred news source on Google.
Check JEE Mains Result 2026 Link Here
February 17, 2026, 18:16 IST
Read More
As global tech leaders meet Delhi, India hopes to level the playing field for countries outside the US and China.
Source link
Business
Share Market Ends Range-Bound: Sensex Rises 173 Points, Nifty Above 25,700; PSU Banks Outperform
Last Updated:
The BSE Sensex rises 173.81 points or 0.21% to close at 83,450.96, while the NSE Nifty inches up by 42.65 points or 0.17% to end the day above the 25,700 level at 25,725.40.
Stock Market Today.
Stock Market Today: Indian equities ended February 16 on a mildly positive note as benchmark indices moved in a narrow range, as participants refrained from aggressive positioning in the absence of strong domestic triggers and amid mixed global cues. This is the second day in a row when markets managed to close in green. The BSE Sensex rose 173.81 points or 0.21% to close at 83,450.96, while the NSE Nifty inched up by 42.65 points or 0.17% to end the day above the 25,700 level at 25,725.40.
The Bank Nifty rose 0.37% to 61,174, remaining close to its 52-week high of 61,764, aided by strength in select banking heavyweights.
Broader Markets Outperform
The broader market space extended its outperformance versus frontline indices, indicating sustained risk appetite. The Smallcap 100 gained 0.56%, Microcap 250 advanced 0.99%, and MidSmallcap 400 rose 0.44%.
Sectoral Trends Mixed; PSU Banks Lead
Sectoral performance remained scattered, with clear stock-specific action rather than a broad-based trend. The PSU Bank index jumped 2.11%, emerging as the session’s top gainer and inching closer to its yearly peak, pointing to renewed buying interest in state-run lenders. IT stocks climbed 1.03%, extending their rebound, while FMCG added 0.90%, supported by defensive buying.
Metals Drag; Realty, Oil & Gas Slip
On the losing side, metal stocks declined 1.06%, making the pack’s weakest performer, likely due to global commodity caution and profit booking after recent rallies. Oil & Gas and Realty indices also closed marginally lower.
Volatility Eases Further
Market volatility softened, with India VIX falling 4.93% to 12.67, signalling reduced hedging activity and relatively calm trader sentiment.
What Analysts Say
Vinod Nair, head of research, Geojit Investments Ltd, said, “Domestic markets traded in a range-bound manner, attempting to recover recent losses triggered by lingering concerns over AI-led disruptions. The IT sector, following a sharp correction, witnessed selective bottom-fishing, aided by announcements of strategic collaborations with global AI partners. Meanwhile, PSU banks outperformed the broader indices, supported by positive Q3 results and favourable regulatory tailwinds.”
In the near term, sentiment is likely to remain cautious as investors monitor global developments around AI-driven shifts. However, a resilient GDP outlook, and a stabilising rupee may provide support to renewed FII inflows, he added.
Nilesh Jain, vice-president and head of technical and derivative research at Centrum Finverse Ltd, said, “The Nifty extended its upward momentum for the second straight session, successfully filling Friday’s gap. It closed above its 100-DMA near 25,700, indicating improving strength. However, the index faced resistance around the 50-DMA placed at 25,750, a decisive breakout above this level could pave the way for further upside towards 26,000. On the downside, immediate support has shifted higher to 25,600. Meanwhile, India VIX cooled off sharply, declining by nearly 5% to slip below the 13 mark.”
Any further easing in volatility is likely to remain supportive of bullish sentiment. Overall, the broader structure continues to look positive, and a buy-on-dips approach should be maintained as long as the Nifty holds above the 25,400 zone, he added.
Ponmudi R, CEO of Enrich Money, a SEBI – registered online trading and wealth tech firm, said, “Indian equity markets traded with a mildly positive yet cautious undertone, as participants refrained from aggressive positioning in the absence of strong domestic triggers and amid mixed global cues The banking space once again acted as a structural pillar, stabilising the broader indices during intraday volatility. The IT sector witnessed selective bargain buying and short-covering, leading to a measured recovery. While this rebound does not yet signal a confirmed trend reversal, it increases the probability of an early-stage bottom formation — a development worth monitoring closely in the coming sessions.”
Market participants continue to await clear external catalysts before committing to the next decisive directional move. On the macro front, the rupee remained broadly stable, reflecting balanced dollar demand and the absence of currency-led stress. Steady domestic liquidity flows continue to cushion downside risks, reinforcing the underlying resilience of the market structure, he added.
Click here to add News18 as your preferred news source on Google.
Check JEE Mains Result 2026 Link Here
February 17, 2026, 16:12 IST
Read More
France’s Kering’s FY25 sales fall; eyes growth & margin recovery
Robert Duvall, known for his roles in "The Godfather" and "Apocalypse Now," dies at 95
HSBC Egypt backs Hong Kong textile business mission in Cairo
-
Business1 week agoAye Finance IPO Day 2: GMP Remains Zero; Apply Or Not? Check Price, GMP, Financials, Recommendations
-
Fashion1 week agoComment: Tariffs, capacity and timing reshape sourcing decisions
-
Tech1 week agoRemoving barriers to tech careers
-
Entertainment1 week ago‘Harry Potter’ star David Thewlis doesn’t want you to ask him THIS question
-
Fashion1 week agoADB commits $30 mn to support MSMEs in Philippines
-
Fashion1 week agoSaint Laurent retains top spot as hottest brand in Q4 2025 Lyst Index
-
Fashion4 days ago$10→ $12.10 FOB: The real price of zero-duty apparel
-
Sports1 week agoWinter Olympics opening ceremony host sparks fury for misidentifying Mariah Carey, other blunders